i tink is case by case basis leh...
i bot an endowment plan when im 20yo..it is a 10yr plan wif monthly $300.
oh ya do nid to add on tat mine is nt pure endowment, certain percentage of my saving go to invrstment u can say is a portfolio ba...now my policy gg to mature n i last check the amount is 55k plus at least. i tink is a gd saving habit for beginner. im nt a agent ar..i just tink if i nv force myself to save it, i will end up spending it. put in bank i got the tendency to withdraw out. Hence, im oso more of less influence by peer when.young to go for the endowment plan which i tink really helps and seeing the amount now makes mi tink tat my decision is nt wrong..
Once mature, most probably.i.will use a percentage to go for holiday when a percentage put in my bank..balance percentage most probavly i would go.for another endowment plan. Endowment plan.is something u.can save n treat it as a private money from other. tiz works in my case and the interest return is much higher than the bank can offer.
just my 10cent opinion.
It work great because you are comparing it to bank saving interests rate.
Additional reason why it is great because you could not really consider as someone with good financial knowledge.
People with such profile, buying an endowment plan is really good, I second your opinion. I am happy that you think it's good for you too.
Do what you are comfortable with.
I am quite anti-endowment personally, as I know how to invest myself. However, I do recommend friends to get endowment plans due to the above reasons. Out of 10 people, there are still 2-3 people going endowment plan benefit them quite fair bit considered it as a forced saving plan and a long term basics.
